Art and Blockchain Technology. Art, by its very nature, has a personal… | by Ostrich Club | Coinmonks | Dec, 2022


Art, by its very nature, has a personal aesthetic and an existential structure. For this reason, the concept of originality is among the cornerstones of art. The accepts to share an original knowledge while transferring his perspective, the world view he created with his own , and to his art. At this point, the production and labor value of this valuable treasure also considers a personal value. Dozens of problems have emerged between the art works and the artist, which can be shared and distributed in modern life. At this point, various solution methods and alternatives are produced and cooperation is made on this problem. One of these issues is the understanding of art that comes with technology.

Blockchain technology is defined as a data recording mechanism that is suitable for sharing as a basic approach and has centralized structure. The blockchain technology, which constantly and itself, is known for being a new center for data sharing and various transactions of a common group of participants. These are able to volume, distribute and encrypt data in a simple and fluent manner, with a variety of cloud services, with transactions from more than one center. All this data is chained and segmented into blocks with hashes, perfectly unique identifiers. The most important point here is that it is the only true center of information and transactions. Thanks to this center, it prevents data duplication and maximizes data .

cannot be changed without the joint agreement and decision of all parties. In this way, fraudulent products are prevented. A blockchain in question can be shared but not modified. In case of any intervention, all participants of the blockchain are warned and necessary interventions are made.

Blockchain and NFT

You, like many, may be wondering what NFT is these days. The abbreviation of the concept of NFT is expressed as “Non Fungible Token”. In fact, NFT, which can also be expressed as a of cryptocurrency, can represent a valuable , unlike other types of cryptocurrencies, apart from classical definitions. For example, commodities that can exist in the digital environment and belong to a person can be classified as NFT. In this sense, NFTs see value as a commodity or product rather than a cryptocurrency. One of the main reasons for their similarities with cryptocurrencies is that NFTs are also connected to a structure such as Bitcoin or Ethereum. NFTs are predominantly from items. For example, playing cards, which were very popular in the past, can be seen as NFT in the digital environment. Another difference of NFT from cryptocurrencies is that each NFT is unique and can be designed differently.

NFT collections, which are offered for sale in the digital environment and attract great attention, include all commodities produced in the virtual environment and on which ownership can be obtained. However, the share of digital art in all of this is quite large. The ownership and sale of digital artworks with NFT technology means that artists can evaluate their works in different ways.

In addition to , famous fashion and accessory brands also transform their products into NFT projects. For example, Jacob & Co. The NFT watch released by the brand made a great impression. The collectors who buy watches as NFT enjoy the pleasure of acquiring the product away from physical wear and risks. In addition, it is possible to the goods from risks with their physical condition.

Blockchain and Art

The advantages of NFT’s transformation into a giant market and its attracted the attention of the art community in particular. Many artists supported blockchain and NFT as it would eliminate the middlemen and have full ownership of the work in the . In this sense, the first art group to come to the fore was the illustrators. Artistic content, social messages and drawings containing were released one by one. Although individual works stood out in the beginning, collections were produced thanks to blockchain technology.
Apart from collections, some painters tokenized their own works and sold them as NFT. This has also led to the emergence of a new discussion specific to blockchain and art.
Some artists created their works just for the . That is, it has put NFTs for sale that have no physical counterpart in the real world. Some of these were sold for millions of dollars, while others did not find their expected value.

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All these developments strengthened the view that and cannot come together, and that although decentralized, the works will still be under the control of large companies. Still, some painters continued their work to keep technology alive. For example, Damien Hirst, one of the most important representatives of contemporary art, started to sell his works as NFT by tokenization. He destroyed the paintings, which are the real equivalent of the NFTs sold, by burning. Thus, the work became the of its owner only. Hirst burned his painting worth £10m in total after the sales.

Blockchain and Music

The market, which revolves mostly around visuals, has also attracted the attention of the world. Music producers, who perform their art with sound, just like the illustrators, switched to blockchain with factors such as being more free, full property right, and getting a full reward for their labor. While there are artists who share their new works only on the blockchain, there are also music producers who give with the advent of metaverse technology.

Music NFTs brought many benefits, especially for fans. For example; albums or music that can be bought by paying a serious amount in the real world have become much more affordable. This paved the way for people to collect the works of artists they love and follow. In addition, names such as world-famous , one of the biggest supporters of music NFTs, have albums and songs exclusively for the blockchain.
Music NFTs, which rose under the leadership of important names, started to be adopted more with Music 3.0. Artists believe that with the spread of , the property rights of musicians will improve not only in the virtual world, but also in the .

Blockchain and 3D Games

After music and painting, the game industry started to focus on blockchain. Since 99% of these games are based on NFT, NFT transaction volumes also exploded naturally. People started buying various NFTs to experience the games they both invested in and enjoyed. While successful projects offered a serious income to their players, they also gave them the opportunity to earn passive income with tools regardless of the game.
NFTs in have a certain rarity just like other NFTs. The rarest NFT has the advanced features in the game, few in number and the capacity to become more valuable in the future. However, in a constantly changing field such as the game in question, as we mentioned at the beginning of the article, different types of NFT have been developed over time, as unchangeable data will create problems for players. One of them, Dynamic NFT, accounts for almost half of its market today. In addition, considering the number of games released in the last year and expected to be released in the coming years, it can be predicted that NFTs will exceed the number of NFTs in 2 years.

Before answering the question “What is dynamic NFT?”, “What is NFT?” Let’s go over the question again. NFT is an immutable token that proves and confirms the uniqueness of a digital asset stored on the blockchain. or Dynamic NFT, on the other hand, as you can understand from its name, means that the digital asset can change under certain conditions.
Dynamic NFTs, which are the trend of the last period, make it possible to change some parts of the data by adding some parameters to the smart contracts registered in the blockchain. Here, the “with the addition of smart contracts” part is important. That is, not all NFTs containing GIF, 3D, or animation are dNFTs. To be dynamic NFT, the change must be in the metadata contained in the smart contract. The 3D, high quality, designed that will be announced soon will also make a significant contribution to the collaboration of blockchain and art with the dNFT feature.

The Last Word

In the light of all this information, if it is necessary to reevaluate the concepts of technology and , the decentralized registry areas of the blockchain that are suitable for securely sharing can create a new field for technology-based art. Although technology, which is seen as a safe option for the protection of all kinds of enterprises, information and data sharing, stands out in many areas, especially in the field of finance, it also gives hope in other fields. With Blockchain technology, works of art can keep all their information and features in digital environment from the date of creation. During these transactions, the purchase and sale of works and copyright transactions can be arranged in a protected manner without any secondary person or intermediary. The developments that have emerged as a result of blockchain technology and the modernization of art have started to make a name for themselves with new aimed at protecting the artist, the work of art and the value of the work. In the light of these developments, authors can go beyond having to reveal their private lives, that is, they have the right to remain anonymous. Access to work-based studies and documents becomes possible only from a single point. The most important development and positive feature of the system is that it can keep the work completely thanks to the complex technology. In addition, any decentralized sales points, namely the markets, constitute a safe shopping point for and .

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